EM Local Markets: from Last Hike to First Cut
This post places the pending policy transition in the context of prior, post-GFC periods in order to assess the momentum behind the asset class and the appropriate positioning across countries.
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This post places the pending policy transition in the context of prior, post-GFC periods in order to assess the momentum behind the asset class and the appropriate positioning across countries.
The persistence of inflation in many EMs puts their hard-earned policy credibility at risk. This note looks at the experience and credibility of five major EM central banks during this period.
The Bank of England unsurprisingly raised its policy rate by 25 bps at its May meeting, but the Bank’s messaging distinguished it from the Fed’s and the ECB’s decisions last week.
Daleep Singh examines the U.S. debt-ceiling crisis, potential outcomes, and probabilities.
A look at the affordable housing crisis in the U.S. and what can be done to address the crisis.
The latest edition to our series analyzes the implications of supply shocks, extends our framework to the Euro Area, and compares its performance to the U.S.
Our View from the Desk for the week of May 22 summarizes the macroeconomic and asset-class specific themes discussed in our weekly desk head meeting.
Our View from the Desk for the week of May 15 summarizes the macroeconomic and asset-class specific themes discussed in our weekly desk head meeting.
Our View from the Desk for the week of May 8 summarizes the macroeconomic and asset-class specific themes discussed in our weekly desk head meeting.
Past performance is not a reliable indicator of future results. There is no guarantee that objectives will be met. All investments involve risk, including possible loss of capital.
Source of data (unless otherwise noted): PGIM Fixed Income.
Note: Staffing as of March 31, 2023.